It doesn’t necessarily mean that, it just means taxes and interest rates need to balance it out. It’s useful as a countercyclical stabilizer.

If it were to be implemented, I think we’d want that money to largely come from increased taxes on corporations that have seen increased profits resulting from factors such as automation and offshoring.

Do those profits actually exist in real (inflation-adjusted) terms and not nominal ones?

Europe uses a VAT for this. You probably want that, because it’s the most effective tax at raising revenue, although compliance is a pain and Americans would hate it.